International Paper (NYSE:IP) was downgraded by stock analysts at ValuEngine from a "hold" rating to a "sell" rating in a report released on Monday, ValuEngine reports.
Several other research analysts have also weighed in on IP. Wells Fargo & Co lifted their price objective on shares of International Paper from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Cfra reduced their price objective on shares of International Paper from $45.00 to $36.00 and set a "hold" rating on the stock in a research note on Friday, May 1st. Morgan Stanley began coverage on shares of International Paper in a research note on Monday, June 15th. They set an "underweight" rating and a $29.00 price objective on the stock. DA Davidson reissued a "buy" rating on shares of International Paper in a research note on Friday. Finally, Zacks Investment Research lowered shares of International Paper from a "hold" rating to a "sell" rating and set a $36.00 price objective on the stock. in a research note on Wednesday, May 27th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of "Hold" and a consensus price target of $41.50.
Shares of NYSE:IP traded up $0.65 during trading on Monday, hitting $35.44. 3,794,289 shares of the company's stock were exchanged, compared to its average volume of 3,299,298. International Paper has a 1-year low of $26.38 and a 1-year high of $47.64. The firm has a 50-day moving average price of $35.24 and a two-hundred day moving average price of $35.93. The company has a current ratio of 0.79, a quick ratio of 0.55 and a debt-to-equity ratio of 1.38. The firm has a market cap of $13.78 billion, a P/E ratio of 22.15 and a beta of 1.30.
International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.39 by $0.38. International Paper had a net margin of 2.98% and a return on equity of 19.18%. The company had revenue of $4.87 billion during the quarter, compared to analysts' expectations of $4.97 billion. During the same quarter in the previous year, the company earned $1.15 EPS. International Paper's revenue was down 14.1% on a year-over-year basis. As a group, research analysts predict that International Paper will post 2.04 EPS for the current year.
Several hedge funds have recently made changes to their positions in IP. Prudential PLC lifted its position in shares of International Paper by 19,224.1% in the first quarter. Prudential PLC now owns 2,036,370 shares of the basic materials company's stock worth $63,392,000 after purchasing an additional 2,025,832 shares in the last quarter. Levin Easterly Partners LLC bought a new stake in shares of International Paper in the first quarter worth $27,136,000. Bank of New York Mellon Corp increased its holdings in International Paper by 9.8% during the first quarter. Bank of New York Mellon Corp now owns 6,454,939 shares of the basic materials company's stock worth $200,944,000 after buying an additional 574,692 shares during the last quarter. State Street Corp increased its holdings in International Paper by 2.2% during the first quarter. State Street Corp now owns 24,815,208 shares of the basic materials company's stock worth $772,497,000 after buying an additional 526,948 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in International Paper during the first quarter worth $15,935,000. 81.06% of the stock is currently owned by institutional investors and hedge funds.
International Paper Company Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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